II-VI (IIVI) is Reiterated by The Benchmark Company to Buy, Lowers Price Target to $ 23.50

II-VI (IIVI) was Reiterated by The Benchmark Company to “Buy” while Lowering the Price Target of the company shares to $ 23.50 from a previous price target of $25 . The Benchmark Company advised their investors in a research report released on Aug 2, 2016.

On the company’s financial health, II-VI reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.24. The company had revenue of $231.70 million for the quarter, compared to analysts expectations of $214.13 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

II-VI closed down -0.18 points or -0.89% at $20.1 with 2,09,660 shares getting traded on Friday. Post opening the session at $20.23, the shares hit an intraday low of $20.02 and an intraday high of $20.27 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 14, 2016, Vincent D Jr Mattera (President & COO) sold 11,000 shares at $20.01 per share price. According to the SEC, on Jun 9, 2016, Joseph J Corasanti (director) sold 33,400 shares at $20.63 per share price. On Jun 6, 2016, Thomas E Mistler (director) sold 5,000 shares at $20.50 per share price, according to the Form-4 filing with the securities and exchange commission.

II-VI Incorporated develops manufactures and markets engineered materials and opto-electronic components and products for precision use in industrial optical communications military semiconductor medical and life science and consumer applications. The Company has three segments: II-VI Laser Solutions II-VI Photonics and II-VI Performance Products. Its II-VI Laser Solutions segment designs manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand and used in carbon dioxide (CO2) lasers. Its II-VI Photonics segment manufactures crystal materials optics microchip lasers and opto-electronic modules for use in optical communication networks and other consumer and commercial applications. Its II-VI Performance Products segment designs manufactures and markets infrared optical components and optical assemblies for military medical and commercial laser imaging applications.


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